Northpointe Bancshares Q4 net interest income rises

Overview

• Financial services firm's Q4 net income to common stockholders fell by $1.7 mln from the prior quarter

• Net interest income for Q4 rose by $3.2 mln from the prior quarter

• Company's Mortgage Purchase Program and AIO loan balances showed significant growth

Outlook

• Company did not provide specific financial guidance for the upcoming quarter or year

Result Drivers

• MORTGAGE PURCHASE PROGRAM - Significant growth in MPP balances contributed to increased net interest income, with balances rising by $60.1 mln from the prior quarter

• ALL-IN-ONE LOANS - AIO loan balances increased by $31.0 mln, or 18% annualized, supporting overall loan growth

• CREDIT LOSS PROVISION - Lower provision for credit losses due to improved economic forecasts, despite higher net loan charge-offs

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for Northpointe Bancshares Inc is $20.00, about 10.7% above its January 20 closing price of $18.06

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release: ID:nBwPHyGYa

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